The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
Gulf Keystone has announced the commencement of drilling operations on its Sheikh Adi-1 exploration well effective August 4, 2010. This is the first exploration well to be drilled on the Sheikh Adi Block immediately to the west of the Company's Shaikan Block, site of last year's discovery of the giant Shaikan oil field. The Company […]
Gulf Keystone has announced the results of further testing of the Butmah (1783m to 1814m) section of the Jurassic on its Shaikan-1 discovery well: Final production rates during this week's re-test were measured at 4650 bopd with an API gravity of 17.68 degrees and a gas oil ratio of 34 standard cubic feet per barrel […]
In a recent opinion piece in the Times, Lord Jeffrey Archer was enthusiastic about the opportunities to be grasped in modern Iraq: "Today [Baghdad] is a boom town, rather than a bomb site. If I were a young man, looking to make my fortune, I would be off to Iraq like a shot." " ... […]
The spokesman of the Kurdistan Regional Government (KRG) has dismissed reports that a U.S.-Iraqi delegation will visit Kurdistan to investigate allegations of oil exports to Iran. Kawa Mahmoud, the KRG spokesman, told AKnews that even if the U.S. delegation arrives in the Region, the visit will be limited to issues concerning the formation of the […]
Reliance Industries, owner of the world’s largest refining complex, plans to start exploration at two oil blocks in Kurdistan this year. Reliance, controlled by billionaire Mukesh Ambani, invited contractors to bid for work to begin extended well testing at its Rovi and Sarta blocks starting in the fourth quarter, a tender document shows. The studies […]
The Kurdistan Democratic Party has filed a one billion US dollar defamation lawsuit, the largest in Iraqi history, against an opposition newspaper, the Metro Center to Defend Journalists, which represents the Journalistic Freedoms Observatory JFO in Kurdistan region, said on Monday. On July 20, Rozhnama, a newspaper affiliated with the main opposition group Change, published […]
Iraq is currently losing oil revenues of 100 thousand barrels per day (bpd) because Kurdistan is not producing oil, the spokesperson of the Iraqi Oil Ministry said on Sunday. “Kurdistan will not affect the Iraqi budget by stopping oil production, but the country is losing additional revenues that can be used in the rebuilding processes,” […]
The spokesman of the Kurdistan Regional Government (KRG) rejected remarks made by the Iraqi Oil Minister, Hussein Shahrestani, on Sunday about illegal oil trade through the Kurdistan Region. Shahrestani called on the KRG to justify its position regarding exporting oil to Iran, in a statement made to the Arabic radio channel Sawa. "In accordance with […]
The Kurdistan Region imported nearly 10,000 Kg of gold in the first six months of this year, nine times more than last year, a source at the Region’s Jewelry Control Directorate told AKnews. Ismael Sabir, the technical administrator in Kurdistan Region's Jewelry Control Directorate, said that 9, 449 Kg of gold were traded in the […]
A source at the directorate of jewelry quality control in Erbil told AKnews on Sunday that 19 Kg of diamonds have been imported into the Kurdistan Region so far this year. A diamond dealer confirms that demand for diamonds has grown in the Region in recent months. “We check diamonds and other jewelry imported into […]
The Kurdistan Cabinet advisor for international relations, said Jihan Rashid Snedi, announced on Sunday that an Egyptian trade delegation will visit the Kurdistan Region. "The Egyptian trade delegation plans to talk with the chief of Kurdistan Chamber of Commerce about reconstruction, investment, business, technology, agriculture and higher education during its stay in Kurdistan," Snedi noted. […]
Despite a pledge by Iraqi Kurdistan to crack down on the flow of fuel being smuggled to Iran, the only real impediment truck drivers say they face are long lines that force them to wait for days to cross, according to a report from Reuters. Perhaps around 100 tanker trucks corralled into groups of 10 […]
